Home Prices in Princeton NJ January 2014

By
Real Estate Agent with Keller Williams Princeton

Home Prices in Princeton NJHome prices in Princeton NJ

Home prices in Princeton NJ continue to rise which have set expectations for a robust Spring 2014 real estate market.  We have seen 18 straight months of sold price increases on home prices in Princeton NJ and don’t expect things to slow down anytime soon. Despite the rise of mortgage interest rates, there's a pent up demand for housing. Note the luxury market for homes above $2 million have continued to remain sluggish as the sole exception. If you are considering buying a home you can still find values in a home in Princeton NJ. However, having a good real estate agent who understands the local market is a must.  Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market with multiple offers.The median numer of Days on Market is 121. As you can see from the graph above, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Princeton NJ home on which you are making an offer.

Princeton InventoryPrinceton Market Inventory Trends

If you are interested in how much current inventory is on the market in Princeton NJ you can find that information by clicking on the link, or on the side graph.   The number of active listings in Princeton (08540) dropped by 11.1%from the previous month.The median number of days active properties have been listed is 121.The number of sales in August dropped by 76% from the previous month.

New Jersey Market

The law of supply and demand are clearly at play now. New Jersey is experiencing the lowest level since 2005 of homes being offered for sale which results in limited choices for home buyers. To top it off, home purchase demand is up 23% making it 26 consecutive months increases.  New Jersey saw a 5.5% increase in prices during 2013.

Home Prices in Princeton NJFind Out What Specific Homes Sold for in Princeton                      

Here's your chance to find out what a specific home sold for in Princeton. You might want to know what your neighbor's home sold for a perhaps a specific one in a neighborhood you've been eyeing. This will be a big help in keeping you up to date about home prices in Princeton NJ  

 

Find Homes for Sale in Princeton NJ

Visit my website to search homes for sale in Princeton NJ or to be notified when homes come on the market.

 

To find out what you home is worth in the current market fill out this easy form to receive a detailed analysis. Of course, each home is unique and the value will depend on what kind of upgrades and additions you might have done to your home as well as the location. However, If you would like a quick instant ball park price,click here.

 

Thank you for reading about Home Prices in Princeton NJ for January 2014.

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New Jersey Mercer County Princeton
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Rainmaker
771,787
Bob Baesmann
DFW Team Realty - Plano, TX
DFW Team Realty | 972-978-8800

Great information on your local market.

 

Thank you for sharing this important information about the Real Estate market in your area!

Jan 09, 2014 10:43 AM #1
Rainmaker
439,350
Gina Tufano
Ask Gina & Company with Pearson Smith Realty - Sterling, VA
Ask Gina & Company, Northern Virginia Real Estate

Jody, it looks like you will have a very busy 2014! 

Jan 10, 2014 04:32 AM #2
Rainer
39,242
Jody Siano
Keller Williams Princeton - Princeton, NJ
With You Every Step

Gina,

As you can see I'm a brand new Rainmaker and this is my 3rd blog post. I've spent countless hours learning.  Any advice would be great.  I'm deeply committed to blogging.  I had Brandco do a refresh on my EAgentC site, www.PrincetonAreaRealEstate.com and added a piggyback wordpress blog with wolfnet IDX plug in.  I'm charging through.

Thanks

Jan 10, 2014 04:57 AM #3
Rainmaker
439,350
Gina Tufano
Ask Gina & Company with Pearson Smith Realty - Sterling, VA
Ask Gina & Company, Northern Virginia Real Estate

Jody ~

 

So sorry - just saw this now!  We are just switching to wordpress now...I could learn a lot from you!

 

Have you had much success since this post?  Would love to trade notes.

 

Gina

Jan 22, 2014 02:55 AM #4
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Rainer
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Jody Siano

With You Every Step
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